Guideline Value for M.V.R.NAGAR

M.V.R.Nagar guideline value

The current guideline value of M.V.R.Nagar, located in Ninna Karai village, under the Chengleput Joint II SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of M.V.R.Nagar has changed

The guideline value for M.V.R.Nagar has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,800 per sq.ft, which was then increased by 10% to Rs 1,980 per sq.ft in the 2024 revision.

This change reflects a significant increase in the guideline value from the previous year. The 2024 figure of Rs 1,980 per sq.ft is the highest recorded for this street in the recent revisions.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, positioning M.V.R.Nagar's 2024 figure above this median.

• Muthuramalinga Sethupathy Salai(1st Cross St) (Ward -8): Rs 1,321 per sq.ft (2024)
• Muthu Nagar Kattankilathur (Ward -17): Rs 660 per sq.ft (2024)
• Muthumari Street (Kr): Rs 660 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,321 per sq.ft (2024)
• Nagavalliamman Koil Street(Ward -8): Rs 1,980 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -17): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in M.V.R.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers M.V.R.Nagar?

The Sub Registrar Office that covers M.V.R.Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Ninna Karai

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are recorded at a fair price.

When a property is registered, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.V.R.Nagar?

The current guideline value of M.V.R.Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, marking a 10% increase.

What is the land classification of M.V.R.Nagar?

M.V.R.Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

What are the other guideline values in Ninna Karai?

In Ninna Karai, the guideline values for various streets range from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft.

Where can I find the Sub Registrar Office for M.V.R.Nagar?

The Sub Registrar Office for M.V.R.Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.